Long Term Care Insurance
For Federal Employees
Long term care insurance for Federal employees is a special insurance program that you can opt to receive. Many times people think they are too young to consider this type of insurance, or they simply do not understand how beneficial such a policy can be. It is often an insurance program people ignore and that can be a hazardous decision in terms of emotional stress and financial burden.
Long term care is not just something for the elderly. Long term care can be needed in the event of a serious injury or accident. No mater what your age, getting long term care insurance is something you really need to seriously look into and the Federal program is a great option if you are an employee of the government.
Features Of The Federal LTC Program
In general, most regular insurance policies provide little or no long term care insurance benefits. The U.S. Office of Personnel management recognized the need for this type of coverage and began sponsoring the long term care insurance program. The OPM does not run or handle the program, but simply recommends and offers it as an option to employees.
The long term care insurance program is backed by John Hancock and MetLife, which are both well known and respected insurance companies. The benefits of the program are specifically designed to meet the needs of Federal employees. The rates are very competitive and the payment options are made to be convenient. The Federal long term care insurance program is designed to offer a financial solution to Federal employees for their long term care needs.
It's About Choices
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The Federal long term care insurance program offers both a comprehensive and facility only option.
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The comprehensive plan offers coverage for all types of long term care, including home health, hospice and facility care.
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The facility only plan offers coverage for facility care only.
Under the comprehensive plan a person can even qualify for informal care to be paid for, which includes care by a family member or other non-licensed caregiver. The insurance program is fully customizable. There are four pre-packaged plans, but each employee can make changes to fit their needs. These options include daily and weekly benefits, inflation adjustment and waiting period length choice.
Main Points
The Federal long term care insurance program is a guaranteed renewable program. Once you are approved for coverage your coverage can not be cancelled as long as you are current on your premium payments. Additionally, you will be given a waiver of premium which allows you the right to be able to stop making premium payments if you are receiving benefits and still maintain coverage.
The program also offers personalized assistance from certified long term care insurance consultants. This makes requesting information, making changes and asking questions simple. You will never be left in the dark.
Since this is a private program, Federal employees will not have to go through an insurance agent. The fact that no agents are used greatly reduces the cost and makes these programs rates incredibly competitive with other company’s long term care policies.
Qualifying
Qualifying for the Federal long term care insurance program does require a review by the company. This involves answering questions about your health and medical history. You may have to sign over the permission to review your records and you may have to interview with a nurse. In the event you are denied coverage you will receive a denial letter with an explanation why you were denied benefits. You can then request a review and reconsideration from the company.
This insurance program is something that can be very beneficial should the need for long term care arise. You will find that the cost of the insurance is well worth it when you realize just how expensive long term care can be. The long term care insurance for Federal employees program is one way to protect your family from the potential health and money burdens that life often involves.
Whether you are eligible for Federal long term care insurance or not – be sure and shop around to compare rates from top insurance companies. Use our free quote finder to get started finding long term care insurance quotes now!
